Aram

Rick,

Aram is coming to Houston, in my view, to explore the possibility of coming
back to Enron
(given uncertain situation under the Scottish rule at the old Pacificorp).

I shall suggest that he meet with you and/or Ted Murphy as well.

I can wait for Karen to come back. It's not urgent. We are still working on
the volumetric risk module and the team is making a very good progress.
They gave a presentation today to Rick Carson and me.

We have to decide what comes next (Asset/Liability Model or
Operational Risk Model).

Vince